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Soybean oil's share of the US renewable diesel feedstock market has tripled in recent years to 27.4%, according to University of Illinois economists. Yellow grease holds 29.1%, tallow fell to 15.3%, and corn oil fell 3.3 points to 15.5%.
The economists say soybean oil has been the biggest winner of the renewable diesel boom.
Rising soybean oil share in renewable diesel supports soybean oil demand and crush margins, which can lift meal supply and price the crush. Shifts away from tallow and corn oil also change competing fat and oil prices.
agriculture.comChuck AbbottDec 21, 2023After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
